ST. LOUIS, MO – Monsanto is planning to close up shop at three of its research and development centers by 2016.
This move is expected to further trim back costs after the company announced in October that it would be cutting as much as 2,600 jobs within the next 18 to 24 months.
The three research centers, located in Wisconsin, Connecticut, and North Carolina, employ about 155 people. About 65 of those people would be moved to the Chesterfield Research Village in St. Louis, Missouri area, leaving 90 without a job. Affected workers that will not be moving to the new center will be given a severance package, including pay, extended benefits, and educational assistance.
Reuters reports that the Middleton, Wisconsin and Mystic, Connecticut facilities focus on seed trait development research, and the Research Triangle Park, North Carolina, location focuses on plant screening and phenotyping.
The Wisconsin location will close in the first half of 2016, and the Connecticut and North Carolina locations in the second half of the year.
Monsanto is currently seeking buyers for the properties in Wisconsin and Connecticut, and a replacement tenant for its leased property in North Carolina, according to Reuters.
The company employs approximately 22,500 employees at more than 400 facilities worldwide in 60 countries.
ATLANTA, GA – Michael Joergensen, NatureSweet’s VP of Marketing, joined as at the PMA Fresh Summit expo for a brief look at the company’s new Constellation medley pack.
Constellation features a predetermined mix of some of NatureSweet’s most popular varieties, including SunBursts, Glorys, and Jubilees.
“As we get into November, December, and January, this is the highest demand time of year for small tomatoes,” Michael tells us. “Our mix of Constellation for the next 10 or 12 weeks is going to be really focused on small. You’ll have a really nice mix for the holidays.”
This medley pack comes in larger format sizes including 24-ounce packages for retailers and 32-ounce packages for clubs.
Check out our interview with Michael at the top of the page to see a brief 60 clip of this new and exciting product from NatureSweet!
For more information on NatureSweet’s Constellation, check out our previous story by clicking here.
LOS ANGELES, CA - The key motivation behind some of the largest produce campaigns and marketing initiatives is how to get the nation’s youngest generation to want healthier snacks. John King, Vice President of Licensing for Disney Consumer Products, took the time to go more in depth on the subject with me at PMA Fresh Summit on how the iconic, global company is doing its part in the push for kids to consume produce.
“Healthy living is part of The Walt Disney Company’s DNA,” John tells me as we stand in a booth surrounded by food packages featuring family favorite characters such as Mickey Mouse, Disney Pixar’s Nemo and Dory and Disney Frozen’s Elsa and Olaf. “We took a look at how to make it easier for parents to get kids to eat healthier, and in 2006 we launched The Walt Disney Company’s Healthy Living Commitment and established formal Nutrition Guidelines. Each year of the Commitment has been marked with significant milestones such as expanding content and experiences to inspire healthier food, physical activity and hygiene choices.”
Extensions of that Commitment include licensing The Walt Disney Company’s characters to produce companies like Dayka Hackett, Sage Fruit and Crunch Pak, serving more than 4.5 million pounds of apples, bananas and grapes at The Walt Disney Company’s U.S. parks each year and distributing over 55 million servings of fruits and vegetables through a partnership with Feeding America.
“The Walt Disney Company is in a unique position unlike any other to put produce in front of kids,” he said. “The goal in coming to [PMA Fresh Summit] is to bring all the products from our different licensees and show retailers what the outcome and opportunities of these collaborations can be.”
Championing for healthier options that children will want to eat is integral, John added. “We have provided 4.3 billion servings of fruit and vegetables since the introduction of The Walt Disney Company’s Healthy Living Commitment in 2006.”
To further its Healthy Living Commitment, The Walt Disney Company doesn’t just have a presence at the show, but also participates in key PMA events. For the past several years, John has helped judge the annual Sensory Experience contest, which pairs industry members with local kids to choose a winner for taste, touch, smell and experience.
“The girl I was paired with this year was so funny,” John laughed as he explained that children are given a one-time ‘no thank you’ card to play when they absolutely do not want to try something. “She tried one item and, after tasting it, made a face and said ‘no thank you.’ We had to explain that she could still use the card in a future round.”
Apart from participating in the sensory contests and on the panels, John says the PMA Fresh Summit is an ideal opportunity to both connect with Disney’s current licensees in produce and to develop new relationships.
Now Disney and its licensees are on the brink of a new opportunity to reach a larger audience with the much-anticipated Star Wars: The Force Awakens premiere, now only weeks away. With the film comes new promotions, new characters, and new fans to serve with fresh fruits and vegetables.
It will be exciting to see what the latest installment in the legendary series will do to help push healthy consumption for kids.
PHOENIX, AZ – Sprouts’ new CEO Amin Maredia is already proving his worth after the company released its first quarterly report under his leadership.
Shortly after the third quarter results were announced, the natural and organic grocer’s shares jumped 15% to nearly $23.00 after Wall Street analysts praised Maredia’s plans to keep momentum strong and the robust earnings report.
“Sprouts’ commitment to health and value continues to resonate with customers seeking fresh, natural, and organic products at great prices, driving 34 consecutive quarters of positive comparable store sales growth,” Maredia said in a press release. “Top-line sales increased through strong promotions and operational execution which drove increased customer traffic trends.”
Sprouts’ sales increased 18% to $903.1 million compared to the same period last year, driven by a 5.8% increase in comparable store sales and solid performance in new stores. The results beat Wall Street and analyst expectations.
During the quarter, the company opened eight new stores in Colorado, Kansas, New Mexico, Tennessee, Georgia, and Texas. One more store is expected to open next quarter, bringing the total number of stores opened in 2015 to 27.
Hot on the heels of Whole Foods’ announcement that it would be implementing a $1 billion share repurchase program, Sprouts’ shared that its Board of Directors have approved a $150 million share repurchase program as well.
“We are accelerating investments across the enterprise in product innovation, business intelligence, and our team, to build on our industry leading sales momentum and support long-term growth,” Maredia explained.
Other highlights from Q3 2015 include:
- Two-year comparable store sales growth of 14.9%
- Net income of $32 million and diluted EPS of $0.21
- Adjusted net income of $32.6 million; a 19% increase from the same period in 2014
- Adjusted diluted EPS of $0.21; a 17% increase from the same period in 2014
- Adjusted EBITDA of $73.5 million; a 12% increase from the same period in 2014
- Increased guidance for 2015 and revised mid-term financial targets
“Looking ahead, we continue to focus on product innovation, private label growth, great operational execution, and 14% unit growth coast-to-coast,” Maredia concluded.
For the latest industry financial news, stick to AndNowUKnow.
BELGIUM - In an effort to further improve its customer care, TOMRA Sorting Food has appointed a new Global Service Director, Andreas Reddemann.
Andreas, who holds a diploma in mechanical engineering from Aachen University, Germany, has extensive experience in creating and implementing worldwide customer service strategies. He will be based at TOMRA Sorting Food’s headquarters in Leuven, Belgium.
“TOMRA Sorting Food is widely recognized as the leader in its field. We understand that this position can only be maintained if we continually improve both our sorting systems and customer care proposition,” Andreas said.
Before joining TOMRA, Andreas was Vice President Service Sales and Customer Support at engine manufacturer MTU Friedrichshafen for three years. Andreas was also Global Service Director for drive engineering business SEW-EURODRIVE where he managed 60 service centers and was directly responsible for 360 people in the eight years prior to MTU, according to a press release.
Head of TOMRA Sorting Food, Ashley Hunter, welcomed Andreas to the team saying, “Andreas is an outstanding appointment for our business. He has an excellent track record delivering global customer service programs and is a proven leader with a great deal of drive and ambition. Andreas is the ideal person to direct and grow our customer service offer as we continue to expand TOMRA Sorting Food’s presence within developed and developing economies worldwide. We look forward to him contributing directly to our business’s ongoing positive momentum.”
In his new role, Andreas will develop TOMRA’s customer care offer in existing and developing markets including Asia, Africa and Latin America while also leading a team of 200 customer service personnel.
Andreas added, “The availability and reliability of our sorting machines is increasingly important and our ability to deliver excellent customer service is a way to clearly differentiate ourselves. My focus is to develop our people, infrastructure and service capability to enable us to provide an excellent standard of care at all times, anywhere in the world.”
TOMRA provides high-performance optical sorters, graders, peeling and process analytics systems for nuts and seeds, dried fruits, potato products, fruits, vegetables, meat and seafood.
Congratulations, Andreas, on your new role with TOMRA!
NEW KENSINGTON, PA – Yerecic Label took top honors for print excellence during the 38th Annual Tag and Label Manufacturer’s Institute (TLMI) Awards Competition.
Yerecic Label was presented with first place for Excellence in Technical Achievements in the printing of Great Lakes Grower’s Living Butter Lettuce label and second place for the National Pork Board’s Great for Grilling label, according to a press release.
Company President Art Yerecic said he was honored for being recognized by TLMI for these achievements.
“Product innovations such as BackFlip!™ and LabelBling!™ allow us to bring exceptionally striking designs to our customers, while the Yerecic Label family’s dedication to helping the environment keep us sustainably focused,” he said.
TLMI Environmental Chair Calvin Frost went on to congratulate Yerecic Label on its commitment to sustainability. Frost awarded the company with an Environmental Leadership Certificate for the Documentation of Relevant and Replicable Sustainability Practices.
“The judges for the 2015 Environmental Awards have added an additional award for supplier and converter applicants that recognized their exemplary commitments to TLMI’s sustainability initiatives for waste reduction, tangible and replicable practices, and unique sustainability initiatives,” Frost said.
Some of Yerecic’s environmental achievements include diverting 99.4% of waste away from landfills and eliminating over 1,000 gallons of hazardous waste.
LEAMINGTON, ON – Pure Hothouse Foods is expanding its operations with a new 25-acre greenhouse nearby the company headquarters in Leamington, Ontario.
Planting is expected to occur in early 2016.
The growing demand for Pure Flavor® products necessitated the expansion, company President Jamie Moracci said in a press release. He alluded that there’s still more exciting news to come.
“It’s been an exciting year for our team with our new greenhouse ready for planting early next year, and some other exciting projects on the horizon,” he said.
Pure Flavor’s brand revitalization project, unveiled last month at the PMA Fresh Summit expo in Atlanta, GA, will accompany the expansion.
“We had a very successful weekend at the PMA and we are very excited to share our new branding initiatives,” said CMO Matt Mastronardi. “It is very important to us to build a brand that will continue to support our growth.”
As the company continues to invest in innovation with the newest technologies, stay tuned to AndNowUKnow as we continue to follow the development of this expansion.
LOS ALAMITOS, CA – The holidays are right around the corner, and shoppers are already starting to look for ways to put a modern spin on traditional recipes with new ingredients.
So, why not make their lives a little easier? In a press release, Frieda’s recommended that retailers should stock up on these nine hotly demanded top-sellers to keep sales strong all holiday long.
Pearl and Boiler Onions
Traditional creamed pearl onions get a modern treatment with white, red, and gold pearl onions.
Cipolline Onions
Roasted vegetables are always a fall favorite. These Italian miniature onions add just the right twist.
Shallots
With shoppers looking for fresh, unprocessed ingredients, crispy fried shallots are replacing the canned fried onions commonly used to top holiday green bean dishes.
Stokes Purple® Sweet Potatoes
Sweet potatoes are a must-have, but some shoppers will be looking to wow their families with a colorful new sweet potato dish.
Colored Baby Carrots
Beautiful heirloom root vegetables add more than just orange to your holiday table.
Parsnips
These underappreciated root vegetables play well together with sliced sweet potatoes on a roasting pan in the oven.
Baby Potatoes
Nobody’s knocking mashed potatoes, but whole-roasted baby spuds are where it’s at for holiday cooks.
Colored Cauliflower
Colored cauliflower in purple, orange, and green demand shoppers’ full attention as they shop for holiday menus.
Sunchokes®
Sunchoke purée used to be something you’d only see on a restaurant menu. Now home cooks are impressing their diner guests with these knobby little roots.
These nine holiday essentials are ready to ship from Frieda’s. Don't miss out on these holiday produce sales boosters!
ATLANTA, GA - Chris Veillon, NatureFresh Farms’ Director of Marketing, joined us at the recent PMA Fresh Summit in Atlanta, GA to tell us more about the company’s new educational mobile app and its OhioRed™ tomato brand.
As the name implies, OhioRed™ tomatoes are grown at the company’s new greenhouse facility in Delta, Ohio. NatureFresh will be picking its first crop of this tomato in early February.
“This will be the first time ever people will be able to buy greenhouse tomatoes grown in Ohio in the dead of winter,” Chris tells us.
Chris also took the time to tell us about NatureFresh’s new mobile app, which was on display together with the company’s Greenhouse Education Center at the expo.
The app, which can be downloaded by clicking here, was developed to explain to the community how NatureFresh grows its products.
“There’s a huge misconception about how greenhouse produce is grown, so we created almost two dozen different types of videos that talk about the various aspects that we grow and it’s all been narrated by our staff,” Chris says.
For the latest on NatureFresh Farms, check out our brief interview with Chris Veillon at the top of the page.
AUSTIN, TX – Whole Foods may be looking to revamp its pricing in the near future as the chain looks to increase shareholder confidence in its brand.
“Some would say that increasingly everyone is selling the same food and that price is all that matters,” said Co-CEO John Mackey in a conference call with analysts, according to Reuters. “We are going to be competitive on price where we need to be, but first and foremost, the Whole Foods Market brand stands for the highest quality, selection, and service.”
The natural and organic grocer has been facing increased competition lately, but remains steadfast in its resolve to grow and make progress on a number of its strategic initiatives without sacrificing its image. Such initiatives include new cash register systems that would result in faster checkout lines, a loyalty program, and competitive price-tracking tools.
As part of its Q4 2015 financial results announcement on Wednesday, Whole Foods announced that it would be initiating a $1 billion share buyback program, dividend increase, and new capital structure. In addition, the company will enter into a $500 million five-year revolving credit facility.
“We believe this capital allocation strategy positions us to take advantage of attractive conditions in the debt markets and lower our overall cost of capital, while preserving ample financial flexibility for future growth initiatives,” said Glenda Flangan, Executive Vice President and CFO.
During its fourth quarter, the retailer said that its total sales increased 6% to a record $3.4 billion.
“We recognize the need to move faster and go deeper to rebuild traffic and sales and create a solid foundation for long-term profitable growth and are taking the necessary steps to better communicate our differentiation, improve our value perception, and fundamentally evolve our business,” Co-CEO Walter Robb said in a press release.
Other highlights from the fourth quarter include:
- Comparable store sales on a constant currency basis decreased 0.2%
- EBITDA were $196 million, or 5.7% of sales
- Cash flow from operations was $132 million
Over the fiscal year, Whole Foods opened a record 38 new stores and still has plans to hit its goal of 1,200 U.S. stores.
The company announced that it has signed leases for four new stores in Cleveland, Fort Myers, Florida, Sudbury, Massachusetts, and Wheaton, Illinois. The stores in Cleveland and Wheaton will be relocations.
Whole Foods also announced that it be launching three new “365 by Whole Foods Market™” stores. These new locations will be in Cedar Park, Texas, Cincinnati, and San Francisco.
Other stores previously announced would be in Bellevue, Washington, Houston, Portland, Oregon, and Santa Monica, California. The first 365 store will be located in the Silver Lake neighborhood of Los Angeles.
“We’re excited to have eight leases signed for our new store concept,” said Jeff Turnas, President of 365 by Whole Foods Market. “We continue to look for strong markets and locations where we can appeal to new customers seeking a fresh, healthy, and convenient food experience.”
The first three 365 by Whole Foods Market stores are expected to open in 2016 and up to 10 stores are expected to open in 2017.
For the latest on Whole Foods and the growth of its new millennial-focused format, keep checking in to AndNowUKnow.